The price of Bitcoin today continues to hover around $100,000, allowing the best altcoins to regain momentum. However, the memecoin market recorded a strong bearish pullback this week, highlighting increased price volatility in the crypto space.
Given the current market sentiment, will the Meme Coin market register a strong comeback and hit a new ATH during this crypto bull run? Dive in because, in this article, we have covered the top 3 meme tokens that have the potential to outperform the top tokens.
Dog Hat (WIF)
WIF price lost 5.54% in 24 hours with a trading volume of $499.610 million. Moreover, it fell by 14.56% in seven days and by 20.41% in the last 30 days. With a market capitalization of $2.91 billion, it occupies the 54th position.
The Moving Average Convergence Divergence (MACD) shows a consistent red histogram in the daily time frame with its averages displaying a consistent downward trend. This suggests an increase in selling pressure for the meme coin in the crypto market.
If the bulls regain momentum, WIF price will break through its resistance level of $3.1725 and head towards its upper resistance level of $4.1950. Conversely, if the bears surpass the bulls, Dogwifhat price will retest its support level of $2.2440.
Also read Dogwifhat Price Prediction to discover the long-term price outlook of this memecoin!
Pepe (PEPE)
Despite a 1.16% correction in 24 hours, Pepe coin price surged 13.23% over the last seven days and 27.31% over the last 30 days. Additionally, this memecoin has seen a cumulative return of 1,630.26%, making it one of the best performing memecoins this year.
The Simple Moving Average (SMA) consistently supports the PEPE price chart on the 1D timeframe. However, the MACD indicator is recording bearish price action, highlighting mixed price sentiment.
Suppose the bulls surpass the bears, in which case the PEPE memecoin could be heading towards a new ATH this month. However, if the bears regain momentum, this memecoin could retest its low of $0.00001800.
To find answers to questions like: Will Pepe reach 1 cent? Read PEPE course forecast!
Bonk (BONK)
The Bonk memecoin saw a similar price action losing significant portfolio value over the past seven days. Notably, with a 24-hour trading volume of $386.408 million, this memecoin has a market cap of $2.910 billion.
The SMA and MACD technical indicators consistently record negative price action on the daily time frame. This suggests a bearish outlook for the 04th largest memecoin in the cryptocurrency market.
If the market favors the bulls, BONK price will retest its upper resistance level of $0.00004704 this month. On the other hand, with bearish price action, this altcoin could retest its support level of $0.0000270.
Wondering if Bonk price will hit a new high this altcoin season? Read CoinPedia Bonk Price Prediction. Also subscribe to us to stay informed with the latest cryptocurrency news!
FAQs
The top memecoins by market capitalization are Dogecoin, Shiba Inu, Pepe, Bonk and Dogwifhat.
Considering the current market sentiment, Pepe, Bonk, Wif and PNUT are currently showing high price volatility, putting them in the market spotlight.
In line with historical market sentiment, with the start of the Altseason, the memecoin market may gain traction.